Accustem Sciences Inc.

ACUTdata completeness 50%5 fiscal years on file

Data notes: no data for concept 'revenue'; no data for concept 'cash'; no data for concept 'totalDebt'; no data for concept 'interestExpense'; no data for concept 'incomeTaxExpense'

The thesis, from the filings

Accustem Sciences Inc. earns about -103% on equity, but has diluted owners by 52% over 5 years — worth asking whether the growth reaches owners. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	—	—	—	—	—
Net income	−$670,614¹	−$3.75M²	−$2.05M³	−$1.51M⁴	−$1.76M⁴
Operating cash flow	—	−$1.81M⁵	−$1.62M⁶	−$664,066⁷	−$850,389⁷
Capital expenditure	—	$10,999⁸	—	—	—
Free cash flow (derived)	—	−$1.82M⁵	—	—	—
Total debt	—	—	—	—	—
Cash & equivalents	—	—	—	—	—
Diluted shares	10.0M	11.0M	11.3M	11.4M	15.2M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal

If you owned

Net assets behind them

−$2.23

your share of equity

Profit it earned you last year

−$1.15

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on −$2.23 of net worth that earned you −$1.15 last year.

iii. Is this a good business?

Moat signal · return on equity

-103% avg · 5y

FY21 -103%FY22 —FY23 —FY24 —FY25 —

It earned an average -103% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

+52% shares · 5y

Share count is up 52% over 5 years — owners have been diluted. Worth asking what they got for it.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0

DCF · Growth Exit 10Y

not applicable

only 1 years of FCF (need ≥3) — model not applicable

DCF · Growth Exit 5Y

not applicable

only 1 years of FCF (need ≥3) — model not applicable

Earnings Power Value

not applicable

normalized (5y-median) earnings non-positive — EPV undefined

Graham Number

not applicable

diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts

10-K · period ending 2021-12-31 · accession 0001493152-23-005208 (NetIncomeLoss)
10-K · period ending 2022-12-31 · accession 0001493152-24-010938 (NetIncomeLoss)
10-K · period ending 2023-12-31 · accession 0001641172-25-002594 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001493152-26-016559 (NetIncomeLoss)
10-K · period ending 2022-12-31 · accession 0001493152-24-010938 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001641172-25-002594 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001493152-26-016559 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2022-12-31 · accession 0001493152-24-010938 (PaymentsToAcquirePropertyPlantAndEquipment)